Showing posts with label Silver Spring. Show all posts
Showing posts with label Silver Spring. Show all posts

Wednesday, November 8, 2017

Silver Spring Q3 revenues dip to $47million

Silver Spring Networks reported Q3 revenue of $47.6 million, down 35.9% year-over-year. Net loss per diluted share was ($0.47), versus ($0.29) in the third quarter of last year.
Quarter-ending cash, cash equivalents, and short-term investments was $126.2 million versus $113.4 million in the third quarter of 2016. Billings were $82.8 million, up 8.7% year-over-year.
Cost of billings was $43.1 million or 52.1% of billings, versus $34.4 million or 45.1% in the third quarter of 2016.

“We delivered solid billings growth, underlying profitability, and significant cash flow from operations,” said Mike Bell, President and Chief Executive Officer, Silver Spring Networks. “New customer deployments continue for both domestic and international projects as we ramp deliveries of our Gen5 platform.”

In September,  Itron agreed to acquire all outstanding shares of Silver Spring for $16.25 per share in cash. The transaction is valued at approximately $830 million, net of $118 million of Silver Spring’s cash. Silver Spring provides Internet of Important Things connectivity platforms and solutions to utilities and cities. In 2016, Silver Spring generated revenues of $311 million with a gross margin of 44 percent and ended the year with $1.2 billion of backlog. With its global footprint in the smart utility and smart city sectors, Silver Spring generated more than 20 percent of its revenues through its primarily recurring managed services and SaaS solutions, an area of strategic focus for Itron. To date, Silver Spring has delivered more than 27.3 million network-enabled devices across five continents.

Wednesday, August 9, 2017

Ireland's ESB Telecoms teams with Silver Spring on IoT

Silver Spring Networks, a provider of connectivity for the Internet of Things (IoT), announced that it is working with ESB Telecoms, a subsidiary of electric utility ESB and operator of a national open access wholesale network, to develop a national IoT network across Ireland.

The planned network is designed to serve as a catalyst for municipal, commercial and industrial customers to connect IoT and smart city applications and devices. Once the IoT network is deployed, Silver Spring's Starfish platform-as-a-service (PaaS) will augment ESB Telecoms' infrastructure and services nationwide. Starfish PaaS offers service level agreements and is based on Silver Spring's proven, secure Wi-SUN standards-based mesh technology that complies with the IEEE 802.15.4g specification.

As mesh-connected devices communicate with neighbouring devices, these networks are designed to deliver the robust and reliable connectivity that IoT networks require. With more than 26.7 million enabled devices delivered, Silver Spring noted that it has deployed its technology in Bristol, Chicago, Copenhagen, Dubai, Glasgow, Kolkata, London, Melbourne, Mexico City, Paris, San Francisco, Sao Paulo, Singapore and Washington DC.

ESB Telecoms owns and operates Ireland's National Telecommunications Fibre Optic Network as well as 450 telecommunication towers and sites on which all major Irish telcos have substantial installations. Customers of ESB Telecoms include all mobile operators, Irish government bodies, licensed FM operators and wireless Internet services providers.



  • Separately, Silver Spring announced that it will deploy its Starfish PaaS across the City of London and the London borough of Barking and Dagenham, expanding the previously announced London deployment in the City of Westminster. Through urbancontrol, Starfish is expected to connect around 12,000 smart street lights in the City of London and 15,500 smart street lights in Barking and Dagenham.

Monday, February 8, 2016

Con Edison Picks Silver Spring for Smart Grid and IoT

Con Edison and Orange & Rockland (O&R) Utilities, both regulated operating companies of Consolidated Edison, selected Silver Spring to support its Advanced Metering Infrastructure (AMI) plan for electric and gas customers. The program is expected to connect approximately 3.9 million electric and 1.3 million gas customers through the deployment of Silver Spring’s multi-application networking, data, and control platform.

“We are honored to partner with Con Edison and O&R on this groundbreaking project,” said Mike Bell, CEO and President of Silver Spring Networks. “The technology being deployed and their commitment to meeting the evolving needs of customers through the application of advanced technology builds on their nearly two centuries of innovation and customer service.”

Silver Spring also announced upgrades to its Gen5 critical infrastructure networking platform, including doubling the maximum speed of its Gen5 network to up to 2.4 Mbps, increasing computational performance by 10x, supporting simultaneous mesh communication on both 900 MHz and 2.4 GHz frequencies, integrating 4G LTE communications, and delivering simplified modularity for easier device integration. These Gen5 platform enhancements, coupled with Silver Spring’s existing multi-application, range, latency, scale, distributed intelligence, and power optimization capabilities, further enable utilities, cities and other Internet of Things (IOT) device and application providers to deliver multiple applications on a single, unified network without compromising reliability, speed, security, or cost.

Silver Spring said its systems are now supporting nearly 23 million devices.

http://www.silverspringnet.com/blog

See also